Websol Energy System Ltd

₹ 66.6 -1.51%

06 Feb - close price

websolenergy.com BSE: 517498 NSE: WEBELSOLAR

About

Websol Energy System Limited is engaged in the business of manufacturing photovoltaic crystalline solar cells and related modules in India. ^[1]

Key Points

Products
The company is a leading manufacturer of high-quality solar cells and modules, which serve as critical components in the development of utility-scale power plants, as well as rooftop and commercial & industrial (C&I) solar power installations. ^[1]

Website BSE NSE

Market Cap ₹ 2,812 Cr.
Current Price ₹ 66.6
High / Low ₹ 160 / 64.4
Stock P/E 12.2
Book Value ₹ 9.27
Dividend Yield 0.00 %
ROCE 59.2 %
ROE 80.2 %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 68.5% CAGR over last 5 years

Cons

Stock is trading at 7.19 times its book value
Promoter holding is low: 27.7%
Promoters have pledged 88.1% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Electrical Equipment Other Electrical Equipment

Part of BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	0	0	0	0	1	25	112	144	147	173	219	168	261
	6	2	2	1	3	28	68	81	80	95	115	96	155
Operating Profit	-5	-1	-1	-1	-2	-3	44	63	68	78	103	72	106
OPM %	-1,627%	-1,327%	-750%	-277%	-429%	-13%	39%	44%	46%	45%	47%	43%	41%
	-1	1	0	0	-101	-4	0	0	0	1	2	3	-3
Interest	1	1	1	1	0	5	5	6	5	4	4	5	4
Depreciation	4	4	4	4	4	24	8	9	15	10	11	11	16
Profit before tax	-11	-5	-6	-5	-107	-36	32	49	48	66	91	60	84
Tax %	-39%	6%	-12%	-25%	-49%	62%	28%	14%	14%	27%	26%	23%	23%
	-7	-5	-5	-4	-55	-59	23	42	42	48	67	46	65
EPS in Rs	-0.18	-0.14	-0.13	-0.10	-1.29	-1.39	0.54	0.99	0.98	1.14	1.59	1.10	1.54
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	305	356	280	296	183	69	196	154	213	17	26	575	821
	291	351	271	267	167	93	193	120	187	30	27	322	460
Operating Profit	14	5	9	29	17	-25	3	34	26	-13	-1	253	361
OPM %	5%	1%	3%	10%	9%	-36%	1%	22%	12%	-74%	-5%	44%	44%
	-39	-39	-1	70	11	17	4	60	6	1	-110	2	4
Interest	31	2	1	5	9	6	6	9	3	4	5	20	16
Depreciation	18	16	15	15	14	15	15	15	15	15	36	41	48
Profit before tax	-74	-52	-9	79	5	-29	-15	69	14	-32	-153	194	301
Tax %	0%	1%	14%	0%	0%	0%	-127%	29%	30%	-25%	-21%	20%
	-74	-52	-10	79	5	-29	4	49	10	-24	-121	155	227
EPS in Rs	-3.38	-2.38	-0.45	3.58	0.18	-1.00	0.13	1.59	0.26	-0.61	-2.87	3.67	5.37
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	24%
3 Years:	39%
TTM:	92%

Compounded Profit Growth
10 Years:	30%
5 Years:	69%
3 Years:	160%
TTM:	363%

Stock Price CAGR
10 Years:	34%
5 Years:	77%
3 Years:	96%
1 Year:	-56%

Return on Equity
10 Years:	%
5 Years:	16%
3 Years:	23%
Last Year:	80%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	22	22	22	22	27	29	31	31	37	39	42	42	42
Reserves	-164	-217	-227	36	74	95	94	143	155	152	66	236	349
	389	382	352	84	81	76	78	35	36	28	184	153	159
	383	400	306	175	187	152	109	75	58	48	61	83	158
Total Liabilities	629	587	453	317	369	352	311	284	286	267	353	514	709
	322	280	266	283	304	287	254	239	225	210	270	285	481
CWIP	12	0	0	0	0	1	0	0	0	6	30	17	8
Investments	0	0	0	0	0	0	0	0	0	0	0	5	16
	296	307	187	34	65	64	56	45	61	51	53	208	204
Total Assets	629	587	453	317	369	352	311	284	286	267	353	514	709

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-56	-13	30	142	10	5	1	36	-3	-8	35	167
	-14	-4	-0	28	-1	6	13	-0	-1	-6	-223	-86
	63	15	-30	-168	-12	-11	-14	-35	6	10	189	-35
Net Cash Flow	-7	-1	-1	2	-3	0	0	1	2	-4	1	47

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	210	162	94	2	42	51	33	47	46	37	11	3
Inventory Days	55	61	33	7	51	216	29	70	56	544	525	70
Days Payable	328	283	250	64	172	517	134	157	58	878	1,334	66
Cash Conversion Cycle	-63	-60	-124	-55	-79	-249	-72	-40	45	-298	-798	7
Working Capital Days	-387	-363	-353	-183	-98	-397	-102	-77	-16	-853	-709	-5
ROCE %	-1%	-5%	-3%	62%	8%	-12%	-1%	11%	7%	-11%	-14%	59%

Shareholding Pattern

Numbers in percentages

18 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	26.76%	26.76%	26.76%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%	27.71%
	4.08%	4.14%	0.83%	0.77%	0.47%	0.01%	0.48%	2.46%	4.24%	4.39%	5.47%	5.40%
	0.02%	0.02%	0.02%	0.25%	0.00%	0.00%	0.00%	0.09%	0.02%	0.44%	0.26%	0.31%
	69.13%	69.09%	72.40%	71.26%	71.82%	72.28%	71.80%	69.74%	68.04%	67.47%	66.57%	66.59%
No. of Shareholders	72,622	69,255	62,101	61,032	86,164	1,02,892	1,13,690	1,22,902	1,27,378	1,26,281	1,27,190	1,42,556

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	31.17%	27.93%	25.85%	25.22%	25.04%	25.37%	26.76%	27.71%	27.71%	27.71%
	5.85%	1.20%	6.88%	10.34%	8.21%	2.98%	4.08%	0.47%	4.24%	5.40%
	0.44%	0.53%	0.11%	0.02%	0.02%	0.02%	0.02%	0.00%	0.02%	0.31%
	62.53%	70.35%	67.16%	64.42%	66.74%	71.63%	69.13%	71.82%	68.04%	66.59%
No. of Shareholders	10,532	25,040	24,904	23,906	24,135	78,173	72,622	86,164	1,27,378	1,42,556

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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